Vauld
It said withdrawals would continue as usual, then froze them 18 days later
A Singapore-headquartered crypto lending and trading platform, run mostly from India, that paid interest on deposited crypto and lent against it to customers in more than 160 countries.
- Capital raised (announced)
- Estimated
Recorded announced backing; this is separate from cash received, customer deposits and money recovered.
- Owed to creditors at filing
From the company's court documents as reported in 2022 and 2023. About 90% ($363 million) came from individual retail depositors.
- Withdrawn by customers in the three weeks before the freeze
The company's own figure for withdrawals from 12 June 2022 to the suspension, as reported by CNBC.
- Creditors
Approximate creditor count reported from the August 2022 moratorium hearing; not an active-user count.
Funding
| Round | Date | Announced | Investors |
|---|---|---|---|
| Seed round | 2020 | ||
| Series A | 2021 | ||
| June 2020 investment | Unknown |
Announced is what was said at the time. Cash actually received is rarely disclosed and is not assumed to match.
People
| Name | Role | Period | Now | Last checked |
|---|---|---|---|---|
| Darshan Bathija | — | Founding team, Defx Labs | Oct 2026 | |
| Sanju Sony Kurian | — | Founding team, Defx Labs | Oct 2026 |
Timeline
2018
Later renamed Vauld.
28 December 2020
The company planned to grow from lending and borrowing into payments and trading, and to seek licences in Singapore, the UK and possibly Wyoming.
29 July 2021
The company advertised interest of up to 12.68% a year on lent crypto and said it would fill at least 100 new roles.
June 2022
16 June 2022
In a blog post he said this would continue to be the case in the future.
4 July 2022
The company said it was working with advisers on restructuring options and was in talks with potential investors.
5 July 2022
Nexo took a 60-day exclusive due-diligence period.
8 July 2022
It sought six months of protection from creditor proceedings.
How it ended
Vauld suspended withdrawals, trading and deposits and asked a Singapore court for protection from its creditors, citing volatile markets, the difficulties of key business partners and heavy customer withdrawals. A sale to Nexo was explored and abandoned. Creditors instead approved a scheme of arrangement that repays claims in crypto, which the Singapore High Court sanctioned.
What happened next
- Insolvency proceeding1 August 2022
Reported on 1 August 2022. Justice Aedit Abdullah granted protection until 7 November rather than the six months sought, and ordered a creditors' committee and disclosure of cash flow and asset valuations.
- Regulatory actionAugust 2022
The agency said it froze bank, payment-gateway and crypto balances held with Flipvolt Technologies under the Prevention of Money Laundering Act, as part of an investigation into Yellow Tune Technologies, an account holder it linked to instant-loan apps. CoinDesk later put the frozen amount at about $44.7 million.
- AcquisitionDecember 2022
Blockhead reported that Vauld called off the deal in December 2022; CoinDesk reported that talks broke down at the start of 2023. Two digital asset fund managers later made takeover bids, per a Bloomberg report cited by CoinDesk.
- Insolvency proceeding27 February 2023
A group of creditors had filed an affidavit opposing a further extension.
- Insolvency proceedingApril 2023
- Court ruling10 August 2023
More than 90% of voting creditors in each class, by number and value, approved it. Claims are repaid in crypto. Described as the first such scheme between a crypto company and its users.
- Founder’s next venture12 June 2025
Several of Vauld's investors are named among the backers.
Still alive
Open spot
Vauld is gone. Is your crypto lender still running?
Spotlight your project here.
Sources
15 sources behind this page.
- 1India Freezes Peter Thiel-Backed Vauld's Crypto and Bank Assets Worth $46 Million · Bitcoin.com News
- 2Vauld Wins Another Moratorium Extension From Singapore High Court · Blockhead · Mar 2023
- 3Singapore court grants sanction of scheme of arrangement between a crypto company and its users · Centre for Commercial Law in Asia, Singapore Management University · Sep 2023
- 4Defx Raises $2.5M to Launch a Layer 1 Dark Pool DEX for Perpetual Futures Trading · Chainwire (press release issued by Defx) · Jun 2025
- 5Another crypto lender Vauld pauses withdrawals as market crash takes its toll · CNBC · Jul 2022
- 6Crypto Lender Vauld Gets Further Extension for Restructuring Plan · CoinDesk · Feb 2023
- 7Lending Platform Vauld Raises $2M to Grow Into a Full Crypto Bank · CoinDesk · Dec 2020
- 8Nexo Signs Term Sheet With Vauld for Potential Acquisition · CoinDesk · Jul 2022
- 9Troubled Crypto Lender Vauld Granted 3-Month Moratorium by Singapore High Court: Report · CoinDesk · Aug 2022
- 10Vauld granted 3-month creditor protection in Singapore · CoinGeek
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- 11ED freezes assets worth Rs 370 crore of Bengaluru-based company in money laundering case · DNA India
- 12Vauld Raises $25M Round Led By Valar Ventures to Build Crypto Wealth Globally · GlobeNewswire (press release issued by Vauld) · Jul 2021
- 13Singapore Court Grants Three-Month Moratorium To Crypto Lending Platform Vauld · Inc42
- 14Kroll Facilitates Successful Approval of Scheme of Arrangement for Vauld · Kroll (press release by Vauld's restructuring adviser) · Sep 2023
- 15Crypto wealth platform Vauld raises $25M in Series A round led by Peter Thiel's Valar Ventures · TechNode Global · Jul 2021
Every figure above is clickable and opens the sources behind it. Copies were stored when each source was read, so a citation still resolves after the page it came from is gone.